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ING sees 40% chance of an election, 25% chance of a 'no-deal' Brexit

ING sees 40% chance of an election, 25% chance of a 'no-deal' Brexit
FILE PHOTO: A man walks past the logo of ING Groep NV at a branch office in Amsterdam, Netherlands January 9, 2014. REUTERS/Toussaint Kluiters//File Photo   -   Copyright  Yves Herman(Reuters)
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LONDON (Reuters) – ING, one of Europe’s largest banks, said on Tuedsay it saw a 25 percent chance of a no-deal Brexit and a 40 percent chance of an election in Britain.

“Deal or no-deal a general election looks increasingly likely,” ING economist James Smith said. “There’s a 40 percent probability of a general election coupled with an Article 50 extension.”

The bank said sterling could hit 95 pence per euro this quarter.

(Reporting by Guy Faulconbridge; editing by Michael Holden)

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